Canadian Underwriter

Topic
Catastrophes


News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Storms, floods, disasters demonstrate importance of home emergency plans

February 5, 2014 Helen Branswell, THE CANADIAN PRESS

TORONTO – Last summer, surging flood waters forced the evacuation of a section of Calgary that is home to 80,000 people. Over Christmas, an estimated three million people were affected by power outages caused by an ice storm that hit

News CatastrophesInsuranceMergers and Aqcuisitions

New earthquake hits Greek island of Kefalonia; 16 people slightly hurt, roads, port damaged

February 3, 2014 Elena Becatoros, THE ASSOCIATED PRESS

ATHENS – A strong earthquake with a preliminary magnitude between 5.7 and 6.1 hit the western Greek island of Kefalonia before dawn Monday, sending frightened residents into the streets just over a week after a similar quake damaged hundreds of

News CatastrophesInsurance

Terror threats around Sochi Games raise questions on insurance coverage

February 3, 2014 Bruce Cheadle, THE CANADIAN PRESS

OTTAWA – Canada’s highly paid Olympic men’s hockey professionals are insured against acts of terrorism when they compete in the Sochi Games but it is not at all clear the same coverage extends to their amateur brethren on the Olympic

News CatastrophesInsuranceLegal

Police lay charges against engineer in Elliot Lake mall roof collapse

January 31, 2014 THE CANADIAN PRESS

ELLIOT LAKE, Ont. – A discredited engineer who declared a northern Ontario mall structurally sound just weeks before its roof caved in killing two women was charged Friday in what police described as a “challenging investigation.” Ontario Provincial Police said

News CatastrophesInsurance

Hundreds file lawsuit against makers of Fukushima nuclear plant, saying they should be liable

January 30, 2014 THE ASSOCIATED PRESS

TOKYO – About 1,400 people have filed a joint lawsuit against three companies that manufactured Japan’s Fukushima Dai-ichi nuclear plant, saying they should be financially liable for damage caused by its 2011 meltdowns. Lawyers for the plaintiffs say the lawsuit,

News CatastrophesInsurance

Government set to raise civilian liability to $1 billion for nuclear operators

January 30, 2014 Bruce Cheadle, THE CANADIAN PRESS

OTTAWA – The Conservative government is poised to introduce legislation that will raise the liability for civilian damages for nuclear operators to $1 billion from the current $75 million. The Canadian Press has learned that will be included in an

News CatastrophesInsurance

ICLR workshop to address earthquake risk in Ottawa, Gatineau region

January 28, 2014 by Canadian Underwriter

The Institute for Catastrophic Loss Reduction will be hosting a workshop Feb. 21 on earthquake risk in the Ottawa and Gatineau, Que. region.  The event, part of the organization’s ongoing Friday Forum series, will host Dariush Motazedian, an associate professor

News CatastrophesInsurance

Transportation sector target for terror attacks in 2013: Aon

January 28, 2014 by Canadian Underwriter

Aon Risk Solutions announced Tuesday it has released its annual terrorism and political violence map, which displays colour-coded ratings, of 200 countries and territories, on the risk of several perils to business, including terrorism, riots, insurrection and war. The map

News CatastrophesInsurance

Another CN Freight train derails in New Brunswick, second in three weeks

January 27, 2014 THE CANADIAN PRESS

SAINT BASILE, N.B. – Another CN freight train has derailed in New Brunswick, the second to run off the tracks in the province this month. Local authorities say at least three cars derailed late Sunday night in the Edmunston-area parish

News CatastrophesInsurance

‘Garbage in, garbage out’: High-quality data key for sound use of earthquake risk models

January 24, 2014 by Canadian Underwriter

Having complete and comprehensive data before running a catastrophe model is crucial when assessing earthquake risk, AIR Worldwide’s experts argue, reiterating a point stressed by the federal regulator in its recently-revised guideline on the issue. Uncertainty in data input creates uncertainty

News CatastrophesInsurance

Yet another Quebec town reeling as fatal fire rips through seniors’ residence

January 24, 2014 Andy Blatchford, THE CANADIAN PRESS

L’ISLE-VERTE, Que. – A Quebec village was jolted awake Thursday to the chaos of people scrambling to free neighbours from a seniors’ residence as wind-fuelled flames rushed to swallow the building. Pascal Fillion, who lives near the seniors’ home in

News CatastrophesInsurance

Investigators: Oil train crash could cause ‘major loss of life;’ issue safety recommendations

January 23, 2014 by Canadian Underwriter

WASHINGTON – Warning that a “major loss of life” could result from an accident involving the increasing use of trains to transport large amounts of crude oil, U.S. and Canadian accident investigators urged their governments Thursday to impose new safety